RadioShack (RSH) CEO Joe Magnacca

Shares of RadioShack (RSH) got a nice pop earlier this month after the electronics retailer earned kudos for its clever Super Bowl ad. Unfortunately, RSH stock came back to earth after Wall Street snapped out of its haze and remembered that RadioShack — as the commercial reminded us — hasn’t been relevant since the 1980s.

Magnacca, RadioShack’s fourth CEO in five years, is overhauling the chain’s merchandising and redesigning its stores. He has even opened a concept store in Manhattan’s Upper West Side. Still, little appears to be going right, and RSH is awash in red ink. Although RadioShack secured loans of $835 million ahead of the critical holiday season, the chain is burning through cash at a torrid pace. And reports say 500 stores are going to close within the next few months — potentially the beginning of the end for the beleaguered chain.

Even if Magnacca keeps his job, it’s unclear whether he will have much of a company left to manage.